Bil­lion

the com­bined worth of in­for­ma­tion and com­put­ing tech in­dus­tries in Shang­hai in 2015

the city’s GDP in 2015. These sec­tors, which have a com­bined worth of 1.2 tril­lion yuan ($177 bil­lion), saw the fastest growth among all ser­vice in­dus­tries.

“We are fac­ing new chal­lenges amid the trans­for­ma­tion from tra­di­tional in­dus­tries to In­ter­net-based ones, in­clud­ing bal­anc­ing in­no­va­tion and reg­u­la­tion, which are not nec­es­sar­ily al­ways mu­tu­al­ly­con­tra­dic­tive. Gov­ern­ment, en­ter­prises and en­trepreneurs need to be pre­pared for these changes amid trans­for­ma­tion and take ad­van­tage of the great op­por­tu­ni­ties,” said Yang.

The Shang­hai mayor also said that play­ers in the In­ter­net tech­nol­ogy-based sec­tors will in the near fu­ture play big­ger roles in de­vel­op­ing ap­pli­ca­tions that can help users gain bet­ter ac­cess to ur­ban